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    Volcanic dust and flight problems drive up cost of contracting OSVs

    News // April 19, 2010

    Broker Offshore Shipbrokers Limited says that with flights across the UK and Norway continuing to be affected by the ongoing volcanic activity up in Iceland, many oil companies are being forced to investigate alternative methods of getting crews and other essential personnel transferred offshore.

    "This has lead to an increase in demand for spot vessels and a flurry of fixtures took place over the weekend," said the broker.

    "This has had a big impact on the spot market availability and charter hire rates have increased as a result. If aviation continues to be grounded for the foreseeable future, then we expect further pressure to be placed on the spot market and conditions to tighten more as a result."

     

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